Ecuadorian banana guild to implement compliance evaluation system
The Association of Banana Exporters of Ecuador (AEBE) has signed two strategic agreements with Coface and Verificate, aimed at strengthening transparency and raising compliance standards in the banana export sector.
Coface is a multinational company specializing in credit insurance, risk analysis, and company ratings, with a presence in over 100 countries. Verificate is a technology platform that automates the verification and assessment of individuals using artificial intelligence, providing access to over 21 sources of information to streamline the analysis and validation processes.
AEBE reported that with these partnerships, a formal, structured, and continuous compliance assessment system will be implemented, covering both current members and those wishing to join in the future.
For Coface's assessments and ratings of companies, five indicators will be analyzed: financial situation, operational performance, compliance with regulatory authorities, quality management, and commercial management.
AEBE President Jorge Encalada stated that this agreement marks a significant milestone for the organization, as it represents a crucial step towards institutional strengthening and transparency within the association.
“We are proud to be the first association in the country to implement comprehensive evaluation tools that ensure high standards of management and compliance among our associates,” he said.
José Antonio Hidalgo, the association’s executive director, highlighted the strategic value of the initiative, stating, “Thanks to this agreement, we will be able to offer a rigorous, agile, and reliable process that will contribute to strengthening Ecuador's reputation as a responsible and competitive supplier in the international arena.”
Coface's general manager, Adrián Ordóñez, expressed the company's satisfaction in supporting AEBE in this process. “It is a pleasure for our company to be part of the first Ecuadorian trade association to implement a formal and structured compliance rating scheme,” he said. “We will apply world-class standards, setting a precedent for other associations and productive sectors in Ecuador.”
Similarly, Felipe Ribadeneira, General Manager of Verificate, highlighted the importance of this mechanism, noting that a vetting process is fundamental to ensuring regulatory compliance and promoting transparency, key aspects in the current context.
Through Verificate's platform, profile checks will be completed in minutes using automated risk analysis powered by artificial intelligence (AI), significantly enhancing the efficiency and reliability of the process.
